Gati declared it's financial results for the second quarter ended September 30, 2014. Gati's half-yearly consolidated total income grew 18 percent to Rs 815 crore, while consolidated net profit for the same period was up 112 percent to Rs 27.54 crore. Excluding the exceptional provision of Rs 2.96 crore, the consolidated net profit for the period stands at Rs 30.50 crore.
In Q2FY'15, the company’s consolidated net profit rose by 117 percent at Rs 12.49 crore as against Rs 5.76 crore in the corresponding quarter previous year. It delivers over six million packages per month across 667 districts in India.
The key highlight for the company this quarter is Gati Kausar India, the cold chain arm, raising Rs 150 crore from Mandala Capital AG Ltd. and Mandala Agribusiness Investments II Ltd. Out of Rs 150 crore, Rs 30 crore has been invested in the form of equity shares and compulsory convertible preferential shares (CCPS) and the remaining RS 120 crore shall be invested in the form of non-convertible bonds (NCB).
Commenting on the PE Investment, Mr. Mahendra Agarwal, founder and CEO said, "The investment in Gati Kausar will give us the impetus to position ourselves as the end-to-end solution provider for the cold chain industry. We are confident that with the expansion in the cold warehouses across the country in the next three years, we will emerge leaders in this sector too."
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